The Sensex and the Nifty saw a smart rebound in trade for the second day in a row led by a huge surge in PSU banking stocks.
The Sensex ended the day with huge gains of 401 points, while the Nifty closed the day with gains of 133 points.
A lower then expected non performing assets from Bank of Baroda pushed the markets higher with Bank of Baroda itself surging a huge 16 per cent in trade.
State Bank of India was the other stocks saw buying interest rallying a huge 4 per cent in trade and pushing all PSU banking stocks like Canara Bank, Oriental Bank of Commerce, Union Bank of India among others.
Software stocks showed a mixed trend in trade today as the rupee strenghthened against the dollar. While HCL Tech gained ground, Infosys and TCS lost ground.
Shares in steel companies were the winners in trade today after the Chinese central bank cut interest rates. Among the winners were Vedanta and Tata Steel.